That is just how it is

  The real world financial system might seem dishonest to some. It may even seem like fraud and trickery. But the the truth is, this is the best system I can think of. And it works really quite well. The standard of living has been better today than any time in history because people are no longer physically bound to the output of gold and silver coins. We no longer say, we can not feed the poor in our country because we lack the gold and silver to finance such welfare spending. Instead, we just print the Central Government Notes, and welfare spending finances itself.

  This is because there is not really that much scarcity in the world, and our production frontier is almost limitless. The only question then becomes, how are we going to finance it. We going to wait 10 yrs to accumulate enough gold coins to finance it? That only causes us to allocate unnecessary pools of labor towards the mining of gold and silver ore. Or are we going to finance it now by simply issuing the needed Central Government Notes.

  By eliminating gold and silver, we in essence automate the financial system much the same way machine tools and robots help automate manufacturing.